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Palm Oil Price Drop Due To Falling World Market Prices - Musa
calendar12-01-2013 | linkBernama | Share This Post:

12/01/2013 (Bernama) - Chief Minister Datuk Seri Musa Aman said oil palm smallholders should not blame the government for the decline in the market price of the commodity.

According to him, the drop was due to falling prices in the world market.

He gave the assurance that the government was in negotiations with other producer countries and buyers in a bid to raise the price of palm oil.

"I understand that the drop in the market price of oil palm (fruit) bunches has adversely affected the industry, including smallholders," he said at a gathering with the community in Kampung Rancangan Luboh here today.

Musa said, should the price continue to fall, the government would seek the best approach to address the smallholders' burden.